The Steps To Filing Bankryptcy

Bankruptcy is a last resort solution for debt relief. It can be a difficult decision to have to make but may be the only option you have left. Filing bankruptcy doesn't make you less of a person or mean that you will never have any control of your finances again, it means that you're taking control of your life. There are necessary steps to take before, during and after filing for bankruptcy. Read on for the steps when filing bankruptcy.

Find An Attorney

Look for a bankruptcy attorney to help you through the bankruptcy process. Filing on your own is not an option. Sure, you can find the paperwork and file it yourself with the court, but most likely you'll miss something, skip a step or otherwise - which will end with either you still owing debts after your bankruptcy is discharged or your bankruptcy being tossed out and have to refile again.

Get Credit Counseling

Have credit counseling to help you figure out your finances. This may be required by the bankruptcy court, but even if it isn't, it's a good idea to go. You may learn something about budgeting and take a hold of your finances. Credit counseling may also help you so that you don't actually have to file for bankruptcy. Consolidation, asking your creditors to take leniency or asking for lower interest rates may be a better option for you.

File For Bankruptcy

After you have had credit counseling and found that you have no other option possible, file for bankruptcy. To do so, you should run a credit report to go through all of your past and current debts you have outstanding. Some things may be listed that you forgot about or weren't aware of. Write down all of the creditor's names, addresses, phone numbers and amounts you owe to each of them. Everything will need to be included in the bankruptcy; nothing can be left out. You can't pick and choose what you file bankruptcy on.

Meet With The Trustee

After you file for bankruptcy, you will have a meeting with the trustee. At this time you and your attorney will meet in front of the trustee and have to answer questions regarding your debts, as well as a few other questions. At this meeting, the trustee will grant your bankruptcy. After about 3 - 4 months, your bankruptcy will be discharged, as long as there weren't any problems. You will receive this discharge from the bankruptcy trustee.

Filing for bankruptcy should be done by a professional attorney that specializes in bankruptcy. Do not attempt to file on your own.